The Hero to Zero Effect
If you’ve been in business for any length of time you will recognize this one. You sell a house and achieve the highest price on the street and then a few months later another agent sells another house, usually not as nice than the one you sold, for more money. Now you look like a heel who didn’t do their job. Truth is, you can’t outsmart the market and you definitely can’t predict which way prices will go. Clearly, if prices had fallen, you would still be a hero and the seller would be singing your praises indefinitely.
So is there anything to counteract The Hero to Zero Effect? Just like anything else, you can’t go wrong with a little educational discussion. Finally, keep your seller in the loop on all sales in the neighbourhood. Sure, hearing of another house selling for money will sting, but if it comes from you it can be delivered with context. And at the end of the day, sellers and buyers just want to know that their agent is looking out for them.
mark mclean is the Broker/Manager at the Bosley Real Estate Queen St W office and Past-President of the Toronto Real Estate Board. The opinions expressed here do not reflect the opinions of TREB or Bosley RE.